The socimi Quid Pro Quo Alquiler Seguro sold 18 assets in Catalonia for 1.7 million (1,712,000.00 euros), as reported by the firm to BME Growth.
The company, which with this move aims to "bring rotation to the portfolio", has also proceeded to cancel the debt associated with these assets, the sale of which amounted to approximately 546,000 euros. Thus, the sale has resulted in a net loss for the company of 176,642 euros.
Even with a sale value below the net book value, this divestment operation is interesting for the brand for several reasons.
To begin with, the offer made by the bidder includes the exemption for the Company of any expenses associated with the sale; furthermore, the macroeconomic situation and the impact of the new Law 12/2023 of 24 May on the right to housing has a negative impact on investor appetite in the short/medium term real estate market; this sale allows for great cost efficiency, through the sale in "package" in assets, instead of the sale in "disseminated"; the territorial regulation of the Catalan region is a clear brake on the profitability objectives set by the Company, given that most of the Assets for Sale are located in stressed market areas and, lastly, it allows the Company's strategic objectives to be met, fulfilling the target sales level expected in the business plan.